INTEREST INCOME AND INTEREST EXPENSE (Tables)

6 Months Ended

Jun. 30, 2018

Banking and Thrift, Interest [Abstract]

Components of Company's Interest Income and Interest Expense

The following table presents the components of the Company’s interest income and interest expense for the three and six months ended June 30, 2018 and 2017.

	Three Months Ended				Six Months Ended
	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017
Interest income:	(dollars in thousands)
Residential Investment Securities	$	662,750	$	459,308	$	1,442,338	$	975,218
Residential mortgage loans	18,868		7,417		34,373		11,281
Commercial investment portfolio (1)	79,343		68,153		151,800		132,498
Reverse repurchase agreements	15,845		2,548		27,782		6,156
Total interest income	776,806		537,426		1,656,293		1,125,153
Interest expense:
Repurchase agreements	400,475		197,151		731,849		370,241
Securitized debt of consolidated VIEs	18,201		11,977		33,853		26,827
Participation sold	—		42		—		195
Other	24,016		13,111		44,411		23,443
Total interest expense	442,692		222,281		810,113		420,706
Net interest income	$	334,114	$	315,145	$	846,180	$	704,447

⁽¹⁾  Includes commercial real estate debt, preferred equity and corporate debt.